The cost of living
#1
BE Forum Addict
Thread Starter
Joined: May 2012
Location: Cayman Islands
Posts: 4,996
The cost of living
This is an interesting item I came across this weekend. Cayman ranks as the second most expensive place (city or town, basically) in the world to live. I don't think the index is at all accurate; surely, it's hugely distorted by bar and restaurant prices, and hotel rooms. Still, it's interesting.
https://www.expatistan.com/cost-of-living/index
https://www.expatistan.com/cost-of-living/index
#2
Forum Regular
Joined: May 2017
Posts: 84
Re: The cost of living
It is also distorted by the indirect taxation i.e. you don't pay tax on your wages so have to pay more for a beer/food/car as that's heavily taxed on importation to compensate. Still, the place is very expensive to be fair and arguably the standard of living is less as a result (depends on what you value in life I suppose). Rent is very much becoming a major factor as the rate it has increased lately is outstripping wage increases in my sector.
#3
BE Forum Addict
Thread Starter
Joined: May 2012
Location: Cayman Islands
Posts: 4,996
Re: The cost of living
It is also distorted by the indirect taxation i.e. you don't pay tax on your wages so have to pay more for a beer/food/car as that's heavily taxed on importation to compensate. Still, the place is very expensive to be fair and arguably the standard of living is less as a result (depends on what you value in life I suppose). Rent is very much becoming a major factor as the rate it has increased lately is outstripping wage increases in my sector.